Just like two days ago, when for the first time in years the BOJ intervened directly in the USDJPY market, moments ago Kuroda's trading desk once again decided to sell a boatload of Yen, with the key carry pair trading at 111.25 and threatening to take out the 110 support, in the process sending the USDJPY higher by 175 pips in a matter of seconds to just above 113. The move quickly filtered through to all other asset classes: QUICK JUMP IN YEN, DOLLAR; S&P FUTURES PARE LOSS TO 32PTS However, just like last time the BOJ's direct intervention - seen as a last ditch effort when all else fails - the impact is ... (full story)